US beef exports trend lower - USMEF
Beef exports down 15% over last year
21 November 2023
1 minute read
By: September beef exports continued to struggle compared to last year’s record totals but showed increasing strength in Western Hemisphere markets, according to data released by the US Department of Agriculture and compiled by the US Meat Export Federation (USMEF).
September beef exports totalled 98,757 mt, down 15% from a year ago and the lowest of 2023, while value fell 12% to $795.5 million. For January through September, exports were 13% lower in volume (980,100 mt) and down 18% in value ($7.49 billion).
“US beef continues to face tough sledding in our Asian markets, where weakness in major currencies persist and consumer confidence remains guarded,” said USMEF president and CEO Dan Halstrom.
“In the past few weeks we have seen several Asian trading partners step up efforts to stimulate their economies and ease pressure on consumers," he added. "In the meantime, bright spots for US beef continue to emerge in the Western Hemisphere, led by strong demand in Mexico.”
